BUSINESS

New forex regime to kick off at N260/$1

The Central Bank of Nigeria (CBN) is suggesting that the new band for the naira, pending the direction of market forces, will be between 260 and 270 to the dollar. Godwin Emefiele, the CBN governor, had said the position of ...

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CBN to release new forex guidelines today

The Central Bank of Nigeria (CBN) is set to release new foreign exchange guidelines on Wednesday, June 15, 2016.The apex bank made the announcement via its Twitter account on Tuesday night. In the tweet, the Bank said: “CBN set to ...

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Reps summons AGF, ministers over MTN fine reduction

The House of Representatives has summoned Minister of Justice and Attorney-General of the Federation, Abubakar Malami, for explanation on the reduction of fine imposed on MTN Nigeria. Also to appear with the minister before the lawmakers are his Communications counterpart, ...

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Buhari has not allocated a single oil bloc – Kachikwu

Nigeria’s Minister of state for Petroleum Resources, Ibe Kachikwu, has disclosed that President Muhammadu Buhari is yet to allocate oil bloc, but when he eventually starts allocating, south-south skilled indigenes will have their share. Speaking at a town hall meeting in ...

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Patronise local meter manufacturers, Fashola advises DISCOs

The Minister of Power, Works and Housing, Mr Babatunde Fashola, on Monday advised Distribution Companies (DISCOs) to patronise local meter manufacturing companies in the country. He gave the advice while inaugurating the Mass Meter Deployment programme in Kano on Monday. ...

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Banks lobby for N10,000 withdrawal limit

The Sub-committee on Payments Systems and Infrastructure of the Bankers Committee, last week sent a proposal to the Central Bank of Nigeria (CBN), seeking to limit over the counter cash withdrawal by bank customers to N10,000. The proposal was presented ...

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GTBank –Lagos State Principals Cup Finals holds on Friday 10th

The Teslim Balogun Stadium will on Friday, June 10, 2016 host the finals of the GTBank-Lagos State Principals Cup; the biggest grassroots soccer competition in West Africa. Now in its 7th year, this season’s finals promises to be an exhilarating ...

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Senate summons Ngige, CBN over threat to banks

The senate has decided to summon Chris Ngige, minister of labour and employment, over his threat to withdraw the license of any bank that retrenches its staff. Raising the issue on the floor of the senate on Wednesday, Rafiu Ibrahim, ...

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ND Avengers blows up Chevron pipeline, says no dialogue with FG

The Niger Delta Avengers, NDA, on blowing up a crude oil pipeline belonging to Chevron Nigeria Limited, CNL, in the early hours today, tweeted: “This is to inform the general public that we are not negotiating with any Committee. If ...

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NUPENG to go on strike

The Acting Zonal Chairman, Port Harcourt Zone, of the Nigerian Union of Petroleum and Natural Gas Workers, Mr. Charles Eleto, has threatened that the Union would embark on strike over the sacking of its members who are workers of two ...

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